Payment and calculation of commission. i) Market making: HFF pays its market maker a quarterly turnover-linked commission throughout the term of the agreement. The commission is based on the market maker’s market share of all transactions by all market makers at the Exchange (transactions marked “AUTO”), for the classes specified in Article 5. Each quarter, ISK12.5 million is available as commission payments to market makers and shall be paid no later than 15 days from the end of each quarter. ii) HFF bond auctions: HFF pays the market maker a quarterly commission throughout the term of the agreement. The commission is based on the market maker’s market share of accepted bids in the auctions. The commission paid to all market makers participating in the auctions equals 0.15% of the market value of accepted bids and shall be paid no later than 15 days from the end of each quarter.
Appears in 4 contracts
Samples: Primary Dealership Agreement, Primary Dealership Agreement, Primary Dealership Agreement
